New York-based Property Markets Group has secured a $33.8 million condo inventory loan for unsold units at Echo Aventura. “It’s typical in projects when we have retired equity and debt and are left with a balance of inventory,” PMG principal Ryan Shear stated about the reason for the loan.
The two 12 story towers encompass 190 units that are located at 3250 and 3300 Northeast 188th Street in Aventura. The loan is secured by the last 25 unsold units, including upper and lower penthouse units. Three units are in the west tower while the remaining 22 are in the east tower. Amenities include a bayfront infinity edge pool, a 4,000-square-foot fitness center, two private entrances and an event room. Units in the buildings come fully furnished, and feature summer kitchens and Apple home technology.
